One thing I learned many years ago, 2 guys can build the exact same motor, use the same parts, and have 25-50 HP difference. Look at the engine builders for NASCAR. Too many variables to standardize horsepower readings between engines. Then, add aftermarket components, gentle or aggressive "massaging" (porting, polishing, balancing, etc.) The numbers can have even wider variances.
Simple little tweaks make a lot of difference. Simple timing tricks and such are able to change the numbers. Even fuel quality will turn different numbers. There are so many variables that come into play for hp to the wheels that what one dyno run shows on one setup does not = all setups.
I have never done a dyno run on anything, but I do know that if you bump compression on a common stock cam, you will see more power, and that was on lesser efficient heads. The "numbers" in thermodynamics are that with higher compression, you have better thermal efficiency. The trick is getting the compression high enough to not get pre-ignition of the fuel you are running. The particular setup was (is) a 327 Chevy with .030 over bore, 11:1 high domes, running 1.94 open chamber heads. Ran like a raped ape with a stock cam. When I put the 350hp cam in it, it actually didn't run as good, but the fuel also wasn't up to the task (young and dumb, had a lot to learn...) I was running on regular unleaded for both setups. 89 octane at the highest. The bottom end was the factory production 350 HP 327 motor from the 60's. The heads and intake were more into the 70's.